Taxes have always been one of the hardest things to do regardless of whether you run a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford enough money to employ an accountant, making it your own can be risky. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement, we have no choice.
What is the best way to deal with it?
We can make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can help you. While this is lengthy, you should be able to gauge whether TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Pricing And Plans
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that require days to complete and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll want to check you have a tax accounting platform seamlessly works well along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one place. This means that there is no requirement to collect information from multiple sources and then organize it on one platform. All you have to do is to integrate TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. For our review we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to handle these. It is up for you and your staff to finish the tax returns in time. TaxJar will only help you understand what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating taxes on sales in order to record and process it. There could be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your staff can access everything you need, like a list of your transactions, reports and data.
The best part about the feature you’ve chosen is it allows you to automatically update every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to fully view the total sales tax within your company. It is also possible to export the information to CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but everything connected to sales tax. You can check out their webinars, guides and blog for more information. Apart from that the sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small company proprietor, then this program will be perfect for you. It may not have all of TaxJar’s features, but it has all the basics you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for something a bit more than just the basics Professional might be the right one for you. It starts at $99, however, it could go up by adding custom features.
So how different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to go for premium plans instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data, Integrations with APIs, teams of members and AutoFiles.
There is also a team who are devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Pricing And Plans
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to see whether the service is an excellent fit for you.
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Pros and Cons
We’ve covered everything you should be aware of TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue, but it can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to meet. If you live in a place with complicated tax laws, this will surely help you wrap your mind around it. TaxJar Pricing And Plans
However, if managing your taxes is simple, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure simple to follow, you might be better off doing it on your own.
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FAQ TaxJar Pricing And Plans
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate the tax.
